Today because private bankers issue our nation's currency, they control the economy as well as the people. The Federal Reserve creates the money as a debt instrument. We the People thereby become debtors and the bankers become our creditors.
The government could allocate a trillion dollars to improve the infrastructure of this nation and employ hundreds of thousands of laborers using debt free currency. It would be created by the U.S. Treasury. Since this money is a result of the productive labor of the workers, there’s no borrowing. No borrowing, no interest paid. The whole thing becomes unnecessary.
In the Constitution; Article I, Section 8, Clause 5, Congress is given the power to coin money but, is not authorized to transfer that authority to any other agency or institution, private or otherwise. The word coin used in this article is a verb that authorizes Congress to create money. Money created by Congressional authority is debt free while the money created by the banking institutions is not.
According John Adams there are only two ways enslave a nation, the first is by conquering it militarily and the second way is to drown it in debt. It is clear in the second way that the borrower is also the servant of the lender.
The government of the United States spends 2.6 trillion dollars to service the debt. If Congress were to issue its own debt free currency we could reduce the cost of government by nearly 40% while at the same time lowering taxes, increasing employment, and ensuring the prosperity of the American people.
Byron Dale ... "Off you go again writing a lot of gibberish that has nothing to do with my question."
I repeat, Mr. Dale, I'm quite content to leave a less biased decision on that point to the readers. Unlike yourself, I haven't constructed a literary and lecturing career on my contentions. I argue my points on a strictly intellectual basis.
BTW ... there's a fellow who produces numerous YouTube videos, 'deadpan' seriously asking random folks outrageously stupid questions and receiving pitifully ignorant answers. People are meticulously made ignorant and un-informed for easy plunder by elites. To use their sadly diminished capacities for your own selfish purposes ought to be dismissed out of hand ... which I do in this instance.
Some time ago you stated that you were having a hard time understanding the phase debt money. I thought maybe this would help.
What is meant by Debt Money? It is when “the actual creation of money (ALWAYS) involves the extension of credit from private commercial banks.” Russell Munk, U. S. Treasury. This means that all of our money is created by the banks when they make a loan. “You may want to know whether the bank is the one getting the benefit of the new money, since the bank owns the new money while the customer has merely borrowed the money. The bank does indeed get the benefit of the new money” Russell Munk, U. S. Treasury.
When all money is created and loaned into circulation, the interest always makes the debt greater than the money supply and grows constantly.. The interest debt grows with time. The money supply only grows with more another loan. This causes a constant and growing spread between the faster growing debt and the slower growing money supply, the money supply is also owed to a bank. The interest on the debt constantly causes the cost of doing business which causes a constant rise in prices, this is called inflation.
But I really have no idea why you feel the need to repeat all this to me. As I told you before, I read what you wrote and all the people you quoted. I don't need the lesson again, but thank you for reminding me of the details in the process. Although I may have professed a lack of direct knowledge about the details of the "banking" game, I only need to read something once to get it.
The problem is not that I don't understand the details of the con game Byron. The problem is that now that I have the details, I don't understand why we're still giving them safe keeping of our individual wealth.
The main thing that I have been trying to get across in this whole conversation is this. If I want, I can go down town, play my guitar and sing in the local saloon and people will give me trade notes that they value because I make them happier in a humdrum world. Even if they dropped loaves of bread or meat and candles into my basket, I would still be generating and transferring "wealth". THAT'S my point about "wealth", "money" or "currency". They are indistinguishable from me and my guitar. When I said I AM MONEY, that's what I meant. We are the economy, not the Banksters, not the government, not the police or the sheriffs, not the "financial elite". It is high time we all pulled our money out of the bank and for a whole bunch of other people to pull their heads outta you know where.
For more topics see these links.
Some time ago you talked about something happening in Washington D.C. I think it was May 16. I would
like to more about what that is all about. I hope you will be kind enough to fill me in.
No problem Byron, Its called Operation American Spring. Here's a link to their facebook page. https://www.facebook.com/OperationAmericanSpring.Target.Washington.DC
If you want to Google it; that should work too.
Also if you want go see these links too. I think you will find them interesting.